September 30, 2008

Researched by Industrial Info Resources (Sugar Land, Texas) -- At a recent conference concerning power and gas, Progress Energy Incorporated's (NYSE:PGN) (Raleigh, North Carolina) Senior Vice President and Chief Financial Officer, Mark F. Mulhern, emphasized the company's outlook for the strong role that nuclear power will play for the U.S. in the future. The company plans to significantly increase its nuclear capacity with construction of the $14 billion grassroot Levy County Nuclear Power Station near Inglis, Florida. Progress is currently in negotiations with a consortium formed by Westinghouse Electric Company LLC (Monroeville, Pennsylvania) and The Shaw Group Incorporated (NYSE:SGR) (Baton Rouge, Louisiana) regarding the engineering, procurement and construction contract for the plant.

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